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Malaysia hopes BAIC tie-up can accelerate EV parts production

KUALA LUMPUR -- Malaysia is banking on a partnership with Chinese state-backed automaker BAIC Motor to accelerate local production of electric vehicle components, as the Southeast Asian nation aims to ride the EV boom -- without an EV brand of its own.

Under an initial agreement signed earlier this year, BAIC and Gigafactory Malaysia (GMSB), a subsidiary of NanoMalaysia, will jointly develop EV battery technology for trucks and buses to be assembled in Malaysia. NanoMalaysia is under the Malaysian Ministry of Science, Technology and Innovation.